Section 1 Short title
This Act may be cited as the “Community Bank Relief Act of 2021”.
Community Bank Relief Act of 2021
A BILL
To require the appropriate Federal banking agencies to develop a Community Bank Leverage Ratio that is between 8 percent and 8.5 percent for calendar years 2022, 2023, and 2024, and for other purposes.
Sec. 2 Community bank leverage ratio
Section 201 of the Economic Growth, Regulatory Relief, and Consumer Protection Act (12 U.S.C. 5371 note) is amended by striking subsection (b) and inserting the following:
“(b) Community bank leverage ratio
“(1) In general—The appropriate Federal banking agencies shall, through notice and comment rule making under section 553 of title 5, United States Code—
“(A) develop a Community Bank Leverage Ratio of not less than 8 percent and not more than 10 percent for qualifying community banks; and
“(B) establish procedures for treatment of a qualifying community bank that has a Community Bank Leverage Ratio that falls below the percentage developed under paragraph (1) after exceeding the percentage developed under paragraph (1).
“(2) Calendar years 2022, 2023, and 2024—Not withstanding paragraph (1), the appropriate Federal banking agencies shall, through notice and comment rule making under section 553 of title 5, United States Code, develop a Community Bank Leverage Ratio to apply during the period beginning on January 1, 2022, and ending on December 31, 2024, that is not less than 8 percent and not more than 8.5 percent for qualifying community banks.”